Nat.Australia Bank (40HT) - NAB completes transfer of assets from Clydesdale RNS Number : 0268O National Australia Bank Ld 05 October 2012 Friday, 5 October 2012 National Australia Bank completes previously announced transfer of assets from Clydesdale Bank PLC National Australia Bank Limited (NAB) has completed the transfer of the UK Commercial Real Estate (CRE) business, comprising assets with balances before provisions of £5.6 billion, from Clydesdale Bank PLC (Clydesdale) to NAB as part of the UK Banking strategic review previously announced on 30 April 2012. The portfolio of assets that has been transferred includes the majority of Clydesdale's CRE exposures, together with some associated loans and other assets, and will be run-off as the assets reach maturity (subject to customers' ability to refinance or repay). The assets were transferred at book value and proceeds from the transfer will largely be used to repay intra-group funding. Some residual UK CRE assets have been retained by Clydesdale where they form part of a broader banking relationship. For further information: Media Brian Walsh Meaghan Telford M: +61 (0) 411 227 585 M: +61 (0) 457 551 211 Investor Relations Craig Horlin Ross Brown M: +61 (0) 417 372 474 M: +61 (0) 477 302 010 This information is provided by RNS The company news service from the London Stock Exchange END STRGIBDGIGGBGDU -0- Oct/05/2012 08:22 GMT
Nat.Australia Bank 40HT NAB completes transfer of assets from Clydesdale
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